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Inco sedang koreksi saat ini per jam  Jam 11:06:39BBIB     Rp.41,700   ( -
500.)
Timah masih rally 11:13:59 BBIB  Rp.10,200      + 300
UPDATE 3-LME nickel, lead, tin set fresh highs Tue Feb 20, 2007 5:28
PM GMT[image:
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By Anna Stablum

LONDON, Feb 20 (Reuters) - Nickel, lead and tin hit fresh highs on Tuesday
in volatile trading on the London Metal Exchange but others softened in the
absence of Chinese buyers for the Lunar New Year holiday.

Fund buying amid thin volumes pushed nickel <MNI3> to a new record high of
$39,998 a tonne before it closed at $39,900, up $1,100 from its close on
Monday. Supply of the metal, a key ingredient in stainless steel, is tight.

"Support came from a 36 (tonne) drawdown in LME nickel stocks following nine
successive days of inflows," analysts at Barclays Capital said in a market
report.

The Shanghai Futures Exchange is closed for Lunar New Year from February 17
and reopens on February 26.

Tin <MSN3> hit a fresh contract high of $13,500 before closing at $13,400,
up from Monday's last quote of $13,195/13,200.

Tin stocks in LME warehouses fell by 85 tonnes to 9,995.
"With momentum funds thought to be short, there may well be room for further
short-covering rallies, especially in those markets that are seeing fresh
supply concerns, notably lead and tin," analyst William Adams at
BaseMetals.com said in a report.

It also hit a new contract high, of $1,835.

"The CTAs (Commodity Trading Advisors) love lead -- they are putting a lot
of money into the market," another LME floor trader said.

Supplies are tight with no lead stocks in LME-registered warehouses in
Europe <MPB/STX>, even if total stocks came in higher on Tuesday at 32,525
tonnes, up 50.

FUND MONEY

Copper <MCU3> closed at $5,730, down $67 from Monday and zinc <MZN3> was
down at $3,325 against $3,390.

Copper and zinc have been the weakest performers this year, with rising
stocks depressing copper sentiment and high levels of Chinese exports doing
the same in zinc, a Barclays Capital report said.

"We see these trends easing in the coming weeks and with stale length in
both markets having been cut back and in copper very large short positions
established, the potential for a significant price recovery is building,"
the report said.

Standard Bank said: "We may be witnessing the start of a shift in sentiment
towards copper and further short covering will only support copper prices."

Aluminium <MAL3> closed at $2,745 against $2,783. Recent market tightness
was easing, with the cash premium over three-months prices, or
backwardation, around $35 per tonne versus $118 on Feb. 5.

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